Here is a silver lining among the dark clouds that loom over Reliance Communications. The Board of Directors has said that the company has got offers for the sale of its tower business. Reliance Infratel has found takers and the company has recieved offers from several parties. The management has accordingly approved taking the process to the next stage of due diligence.
Also read what competitors are up to: Tata Comm sees stronger traction in voice biz in FY12
Reliance Communications has expressed their intent to complete the potential transaction at the earliest.
RCom had earlier tried to merge its telecom tower business with GTL Infra in a Rs 50000 crore deal. Talks fell through and the deal was called off.
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